CHINA May 14 2015 10:35 AM
SINGAPORE (Scrap Register): ASEAN hot rolled cold (HRC) steel import prices (CFR ASEAN port) advanced by $3 a ton to $378 a ton in the week ended May 08, as per the latest figures released by The Steel Index.
Chinese producers returned to the market the week with higher prices, testing buyers’ interest with HR coil SAE 1006 asking prices in the $385-390 a ton range (CFR ASEAN Port).
However, this increased price level did not attract enough firm bids, and by Friday one Chinese mill lowered its offer price $10 a ton to $380 a ton to entice buying.
Japanese and South Korean producers kept their asking prices in the US$390-400/t range, but were seen concluding deals below $390 a ton, on par with Chinese-origin material.
Meanwhile, traders were short-selling HRC SS400 grades this week as low as $375 a ton.
(This article is compiled by Vibin Antony on behalf of Scrap Register. Send in your suggestions and comments to editor@scrapregister.com)